Taking the Air Out of Inflation Fears

Concerns about rising prices have hurt stocks, but S&P sees recent market weakness as a pause in the market's intermediate-term uptrend

Even though you can never be too rich or too thin, excess is not a good thing. As the S&P 500 focused on eclipsing its old high set on Mar. 24, 2000, we think any bad news that could have interfered with this record-setting run was essentially ignored. On May 30, the S&P 500 closed at 1530.23, surpassing the old mark of 1527.46. Additional closing highs were set on each of the three subsequent days.

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